Gold News

Prediction for Gold: XAU/USD falls to approximately $1,750 as risk aversion rises ahead of NFP data release

The price of gold has slowed its daily gains and retreats from a level that has served as resistance for 11 weeks. Although the economy and China are both weighing on market sentiment, the US dollar isn’t helping investors take a less risky approach. Before the announcement of US NFP, traders may pay attention to Fed utterances and reports on Sino-American ties.

Gold News

The price of gold has recovered from its year-low to rise beyond $1,700 in anticipation of an increase in US inflation

Gold’s price chart shows a return to the annual bottom after a corrective pullback. Optimism from the White House and conflicting news on China’s economy are putting the XAUUSD in a better position to rebound from recent losses. The June US CPI will be critical in light of concerns about Fed aggressiveness and recession.